# Akebono Brake Industry changes joint venture partner in China

Akebono Brake Industry Co., Ltd. announced it will dissolve joint venture agreements with ITOCHU Corporation for its Chinese subsidiaries and sign a new joint venture agreement with Fujiwa Machinery Industry (Kunshan) Co., Ltd., transferring ITOCHU's 30% stake.

- Type: Acquisition
- Announced: 2022-06-16
- Where: China
- Status: announced
- Products: brake systems
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Akebono Brake Industry Co., Ltd.](https://endata.com/companies/63506.md)
- [ITOCHU](https://endata.com/companies/1234.md) (target)
- [Fujiwa Machinery Industry (Kunshan) Co., Ltd.](https://endata.com/companies/63507.md) (acquirer)

## Sources

- [marketscreener.com](https://www.marketscreener.com/quote/stock/AKEBONO-BRAKE-INDUSTRY-CO-6491438/news/Akebono-Brake-Industry-Announcement-Regarding-Change-in-Joint-Venture-Partner-of-Consolidated-Subs-40865649/), 2022-06-15: "The joint venture agreements of Akebono Corporation (Guangzhou) and Akebono Corporation (Suzhou) with ITOCHU Corporation will be dissolved, and a new joint venture agreement will be signed with Fujiwa Machinery."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.